Steel price in the market on November 25, 2024

Threaded steel: On November 25th, the average price of 20mm Grade III seismic resistant threaded steel in 31 major cities across the country was 3438 yuan/ton, a decrease of 3 yuan/ton from the previous trading day. In the short term, it is difficult for demand to perform well during the off-season of consumption. At the same time, with the recent southward movement of cold air, market demand has become increasingly weak, but supply remains at a high level, and the fundamental contradiction between supply and demand still exists.

Hot rolled coils: On November 25th, the average price of 4.75mm hot rolled coils in 24 major cities across the country was 3543 yuan/ton, an increase of 7 yuan/ton from the previous trading day. The current market supply and demand still maintain a weak balance, and social inventory is at a low level, which provides a certain degree of support for prices in the short term. However, in the medium to long term, the demand for essential goods and speculation gradually decreases. With the emergence of supply pressure in the later stage, the market's upward momentum is insufficient, which will put pressure on prices.

Cold rolled coils: On November 25th, the average price of 1.0mm cold coils in 24 major cities across the country was 4181 yuan/ton, an increase of 1 yuan/ton from the previous trading day. On the 25th, most spot prices in the market remained stable and watched, and the overall trading atmosphere was relatively average. According to feedback from traders in East China, there were relatively few inquiries about orders and prices on the 25th, and the enthusiasm for terminal procurement was not high. The actual transaction situation was average, and traders still focused on shipping, with transactions mostly concentrated on low-priced resources. In terms of mentality, there has been no significant change in market demand, and the market mentality remains cautious.

Medium thick plate: On November 25th, the average price of 20mm ordinary plate in 24 major cities across the country was 3602 yuan/ton, an increase of 1 yuan/ton from the previous trading day. The market trading atmosphere is poor, with average trading performance on the mid board and strong bearish sentiment among traders; From a fundamental perspective, in terms of supply, steel mills' profits narrowed at the end of November, and some medium plate factories are on the brink of profit and loss, with slow production and delivery speeds, especially for ordinary plates. East and North China are relatively short of stock, and inventory is low. The fundamentals show a weak supply-demand situation.